Comparative Analysis of Regulatory Frameworks: A Study of Three Sector Regulators in India

This study aims at studying and analyzing the regulatory framework of four sector regulators in India namely Odisha Electricity Regulatory Commission (OERC), Insurance Regulatory and Development Authority (IRDA), and Telecom Regulatory Authority of India (TRAI).The study highlights the diversity and similarity in institutional frameworks across the different sectors. It broadly covers two important aspects of regulatory study (1) Institutional Framework and (2) Autonomy to the Regulator. The research methodology used is qualitative comparative analysis (QCA) case- based research of three regulators. Among the three regulators, it is found that the TRAI is relatively less empowered in terms of reporting structure, tenure of the Chairman, funding mechanism and capacity building. As a result of this study, participation of DoT in TRAI consultation process, publication of minutes of meeting and the need for institutions for capacity building in telecom regulation come out as the key recommendations for TRAI.